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PENSION PROTECTION
PENSION PLANS PENSION FACTS SERVICES |
The massive transfer of responsibility for billions in pension obligations from steel companies to the Pension Benefit Guaranty Corporation (PBGC) is well along, and it has bolstered the financial health of the few remaining domestic steel producers. Additionally, since the Bush Administration raised tariffs on 14 categories of imported steel to protect against below-cost foreign “dumping,” prices have risen from their 20-year lows. Imports are down and many unprofitable producers have been acquired. In other words, there has been a “new start” and now many pension plans are on better footing. But given the rampant problems, steelworkers should aggressively watch their pension plans. | |
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